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Strategies & Market Trends : Stock Attack II - A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Vitas who wrote (38066)	7/17/2002 5:45:28 AM
From: bearshark	Read Replies (2) \| Respond to of 52237

Vitas: I think we will look back in two years and realize that this is a bottoming process for the second leg up in the intermediate INDU and TRAN bull market that began on September 21, 2001 and ended in 2003. The closing prices on those two averages held this week after an intraday challenge. The numbers I keep show we are almost as negative now as on September 21, 2001. In my opinion, this is the time to be alert. If people began with the truckers from the TRAN back in September 2001, they would now have large profits to move into stocks that will benefit from the next limited move up. Just as the 1960s ended, so did the 1990s. There are two things I am looking for to confirm the next move up. First, I want to see intraday NYSE advancing volume turn and swamp intraday declining volume and then end the day moving away smartly. Look at the declines of the last week or so. Although steep, it looks planned. It may have been to raise cash in various funds due to redemptions. If we have an intraday turnover on the NYSE volume, it could indicate that this period is over. I need to see the funds give up on their selling. The second part is that the nibbling on the big techs needs to continue. If that stops before we stabilize or begin to slowly move up, I think we face more trouble.